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When entering an oil purchase there is a container charge of $50.00 (for the barrel) when you return the empty barrel you receive a credit for the initial charge. Would I use the Payable Payment for both transactions or use the Payable Payment for one and Receivable Payment for the other or is there another way to enter this. It is the same if you purchase an alternator and have to pay a core charge until you return the old alternator.
It doesn't really matter what you use as it is an in and an out. I have an Asset account called Container Deposits. When I'm billed for a deposit I use and A+ line to my container deposits account to record the amount. Then when I return the container and get a credit back I use A- to my container deposits account. The most important thing is that wherever you record the bill is where you should record the credit - that way it all nets out to zero.